Is Any Publicity Good Publicity? A Note on the Impact of Book Reviews
نویسندگان
چکیده
This paper uses detailed weekly data on sales of hardcover fiction books to evaluate the impact of New York Times book reviews on sales. In order to weigh the relative propensity of reviews to inform and to persuade, the analysis utilizes a measure of review opinion obtained through a systematic reading of each review. The estimates indicate that in the case of book reviews, any publicity is good publicity: even negative reviews lead to increases in sales. We interpret this finding as evidence that book reviews serve largely to inform consumers about books’ content and characteristics (including the books’ existence). However, positive reviews have a larger impact on sales than negative reviews, suggesting that reviews also have a persuasive effect.
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